Financial Freedom

How much is enough?  How much money do you really need to feel financially secure?

Human nature is to just raise the bar every time you achieve your current goal.  If we have to grow to feel significant, we will never grow enough.

Start rich, and then get financially free as well.  Plenty of money will not make you happy.  Wealth comes from a life of gratitude, and from contribution to others.

Can you be an honest person, but not be honest in the moment?

Secret to Financial Independence
1. Spend less than you earn
2. Reinvest your returns
3. Reach your critical mass

People cannot tell you how to do the following:

• How to raise your children
• How to deal with your health
• How to handle your money

You need a money machine, something that will generate you money while you are sleeping.  To help feed you without having to spend time on it.

Income is what makes you wealthy, not assets.  Assets you can buy and it fluctuate in value, but it is not an income, it is an acquisition.

"I'm building a money machine, and its purpose is to provide me with income without working."

Pick a specific % of your income to invest, and pay the investments first before doing anything else.

Success in life comes from good judgement and good decisions.
Good judgement comes from experience.
Experience is coming from bad decisions.

80% of wealth is psychology
20% is experience

The mistake is Asset Allocation
Out of the money you want to invest you will create 3 buckets
Pick your % for each bucket and don't vary based on opportunities

1. Security - Fixed Income investments - low risk (bonds)
- 2-6 months of cash to cover your living
- Insurance
- Home
2. Growth - Greater return/loss, greater risk
- Buy and Hold
- Financial trader (time for money/money for money)
3. Dream bucket
- Travel
- Assets
- Break your pattern, change your location

If you do the right thing in at the wrong time, you get pain.
If you plant your seeds in winter, no matter how hard you work, you will not reap the benefits.
The more successful you get, the more people want to be with you / do things for you

Click here to watch Tony Robbins video on Financial Freedom